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Brent Crude Rallies Above EMA50, Eyes $109 Resistance on May 18

GateNews

2026-05-18 04:55:47

According to Economies.com analyst, on May 18, Brent crude oil futures extended gains as prices continued to trade above the EMA50 moving average support level. The contract is positioning to challenge key resistance at $109.00, with bulls maintaining control of the near-term trend.

The relative strength index (RSI) remains in overbought territory but has shown positive signals, further supporting the bullish momentum.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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